Insider Selling: TechTarget (NASDAQ:TTGT) President Sells $10,505.66 in Stock

Key Points

• TechTarget President William Thomas Morelli sold 2,809 shares at an average price of $3.74, totaling $10,505.66 and reducing his direct holdings by 25.31% to 8,288 shares.
• TTGT shares fell 0.5% to $3.75, remaining below their 50-day and 200-day moving averages. The company recently reported a quarterly loss of $0.30 per share and revenue below analyst expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $8.00 target price; institutional investors own 93.52% of the stock.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) President William Thomas Morelli sold 2,809 shares of TechTarget stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $3.74, for a total value of $10,505.66. Following the completion of the sale, the president directly owned 8,288 shares in the company, valued at approximately $30,997.12. This represents a 25.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

TechTarget Stock Down 0.5%

TTGT traded down $0.02 on Thursday, hitting $3.75. 289,850 shares of the company were exchanged, compared to its average volume of 435,748. The stock's fifty day moving average is $3.92 and its 200-day moving average is $4.17. TechTarget, Inc. has a 12 month low of $3.37 and a 12 month high of $6.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $271.25 million, a PE ratio of -1.53 and a beta of 1.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The information services provider reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.09). TechTarget had a negative net margin of 36.85% and a negative return on equity of 0.62%. The company had revenue of $116.15 million during the quarter, compared to the consensus estimate of $119.55 million.

Hedge Funds Weigh In On TechTarget

Several large investors have recently modified their holdings of TTGT. Rice Hall James & Associates LLC raised its position in shares of TechTarget by 34.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 1,745,806 shares of the information services provider's stock valued at $9,427,000 after purchasing an additional 446,280 shares during the period. EVR Research LP boosted its holdings in shares of TechTarget by 15.4% during the 4th quarter. EVR Research LP now owns 1,165,130 shares of the information services provider's stock worth $6,292,000 after buying an additional 155,130 shares during the period. Bank of New York Mellon Corp acquired a new position in TechTarget in the 2nd quarter valued at about $420,000. Bank of America Corp DE grew its stake in TechTarget by 10.3% in the 1st quarter. Bank of America Corp DE now owns 927,761 shares of the information services provider's stock valued at $3,600,000 after buying an additional 86,836 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of TechTarget by 48.5% during the first quarter. Inspire Investing LLC now owns 130,780 shares of the information services provider's stock worth $507,000 after acquiring an additional 42,712 shares during the period. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on TTGT shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of TechTarget in a report on Friday, July 17th. Needham & Company LLC cut their price objective on TechTarget from $15.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.00.

TechTarget Company Profile

TechTarget, Inc is a business-to-business technology marketing and data company that operates the Informa TechTarget platform. The company helps technology vendors and service providers identify prospective customers, understand their research interests and purchasing activity, and engage with decision-makers throughout the buying process.

Its offerings include high-intent purchase data, account and audience intelligence, digital marketing solutions, demand-generation programs, content creation, lead generation, and research and advisory services.

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